Reverse Mortgage / FHA HECM
The Reverse Mortgage is a way for senior home owners to access their home equity when they might not be able to otherwise. Sometimes the expenses associated with home ownership are more than what a home owner can endure with sometimes limited income.

No payments?
If you are having a hard time making your monthly mortgage payment, or if you simply just need some extra cash each month, the reverse mortgage may be right for you. It may allow you to free up some cash flow by stopping your mortgage payment, and using the equity in your home to pay you.

• This could be in the form of a lump sum, structured monthly income, a line of credit that you may draw from as you wish, or even some combination!

How does this impact your heirs?
Reverse mortgages are still a mortgage. Your heirs may have the choice of paying off the balance of the mortgage, or selling the home. The proceeds of the sale may be used to pay off the mortgage and the excess funds will pass to your heirs. They may also be able to refinance out of the reverse mortgage and keep the home. In any case, they will not need to pay more than the appraised value.

• This is a way where you may make your lifestyle more comfortable during your retirement.

This is a loan program that we are proud to offer. You can expect top notch service throughout the process. Speak with a loan professional to find out what reverse mortgage options you have available today!

Reverse Mortgage can be a good idea if you keep the emotions aside and look at it purely from a financial perspective. Let us look at the negatives and positives surrounding Reverse Mortgage, so that you can decide whether it suits you or not.

Negatives surrounding Reverse Mortgage:
Society Pressure - Home is generally looked upon as a sacred place. If you talk about liquidating your primary home, it is not taken well by anybody especially children. Children see it as giving away their family home and wealth.
Higher Costs - Most banks charge a higher interest rate on reverse mortgage compared to a normal home loan and the valuation of the house is also in the hands of the bank. You may not get the real market value.
Positives of Reverse Mortgage:
Better Monthly Cash Flow - Many retired people have assets in the form of house properties but do not have reasonable monthly income to support their monthly and medical expenses. Reverse mortgage is a perfect tool for such people.
Tax Benefits - In India, payments from Reverse Mortgage are made tax free. So, you don't have to worry about any tax payments.
RMLeA (Reverse Mortgage Loan-Enabled Annuity) - You can get even higher monthly payments if you go for RMLeA. A Reverse Mortgage Loan Enabled Annuity (RMLeA) is an advanced Reverse Mortgage product in which the bank instead of paying you directly, pays one lump sum amount to an insurance company. The insurance company then makes monthly payments to you based on actuarial pricing.

Yes, Reverse mortgage loan is a very popular loan which is issued only for senior citizen above 65 years of age. It will be very useful for them at the old age in order to solve their financial crises. They can pledge their property against money for certain fixed time period and get a loan as well as interest rate from the bank to solve their personal and medical expenses. Thus it is a great source of option to raise capital.